Congress pandering to the Igonrance of People


EOG Master
The big show in Washington today will be posturing Senators browbeating oil company executives over their profits. The anti-capitalist left in this country has been trying for generations to demonize the very concept of profits, and today we'll learn just how much success they've achieved.
If you listen to your friendly television newsperson you'll see almost universal approval of the proposal to seize oil company profits. If you asked one of these people what "inventory profits" were, and why inventory profits rise and fall quickly, they wouldn't have a clue. I doubt that 10% of them could correctly state the difference between profits and profit margins, nor could they come within a few points of telling you what Exxon-Mobile's profit margin was for the last quarter. These news readers shouldn't feel bad though, they're right in step with the vast majority of the American public. Ignorance of basic economic matters is rampant (thanks to government schools) and politicians will always exploit ignorance to expand their power.
These hearings today will be a huge victory for those who dream of government ownership and control of the means of production. Profits have long been described by the left using terms like "obscene," "excessive," and "windfall." Any way you cut it, profits are an ugly thing to the left. Generations of American school children, under the loving guidance of their leftist union school teachers, have either learned that profits are evil, or have learned nothing about the concept of profit at all. These school children have now grown into adults with voter registration cards in their pockets ... adults who couldn't write a cogent paragraph on the role of profits in the creation of our dynamic American economy. Even Republicans, like Senate Finance Committee Chairman Charles Grassley, know what the voters don't know and are eager to exploit their ignorance with calls for evil oil companies to "give back" profits to "the people."
While we're at it, how do you like that "give back" line? Politicians are so clever. There is no "give back" here. It's just "give." To use the term "give back" as it relates to corporate profits is to imply that the profits were given to the corporations in the first place. Businesses don't receive profits as gifts. They EARN tem. The whole "earn" concept is something else that is unfamiliar to the products of our illustrious government schools.
Now ... let's see if these oil company executives have the courage to stand up to these fascists today. My guess is that they will cower in the face of a political onslaught. After all, it's all about the goodness of government and the evil that is business ... right?